House Republicans blamed former MF Global chief executive Jon Corzine for making poor decisions that led to the firm's collapse, but the lawmakers stopped short of saying anyone at the company broke the law by taking money from customers' accounts.

MF Global filed for bankruptcy a year ago, and the futures firm's customers are still owed an estimated $1.6bn. Corzine, a former Democratic senator and New Jersey governor, has faced widespread criticism but no criminal charges in connection with the collapse.

"Choices made by Jon Corzine during his tenure as chairman and CEO sealed MF Global's fate," Rep. Randy Neugebauer (R., Texas), the chairman of the House Financial Services Subcommittee on Oversight and Investigations, said in a statement. Neugebauer's committee on yesterday released excerpts of its report on the futures firm's collapse.

A spokesman for Corzine declined to comment immediately.

The subcommittee said its investigation concluded the circumstances that led to the misappropriation of funds were Corzine's responsibility, but that it would be up to regulators and prosecutors to determine whether he or other employees violated any laws.

The report was supported by Republicans on the subcommittee, but the leading Democrat on the subcommittee, Rep. Mike Capuano (D., Mass.), said he wouldn't support the report because he hadn't had enough time to review it.

"While I agree with a number of the report's observations and recommendations, others require additional commentary," Capuano said in a statement.

Some of the subcommittee's findings reiterated what bankruptcy trustee James Giddens said in a June report on the firm, including that Corzine's aggressive trading strategy and a lack of internal oversight led to MF Global's downfall.

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The subcommittee also recommended that Congress strengthen existing rules that would hold executives liable for moving customer money. The Commodity Futures Trading Commission already passed a rule dubbed the "Corzine Rule" in July that requires futures firms to have a top executive sign off on any transfers of customer money.

The CFTC declined to comment on the subcommittee's recommendations.

The subcommittee said it would release the full report today, which would also address the failure of regulatory agencies "to share critical information with each other about MF Global."

The CFTC's internal watchdog is also working on a report about the regulatory handling of MF Global, at the request of Sen. Richard Shelby (R., Ala.), which is expected in the next couple months.